All Posts

In my case, I do have net income that exceeds the cost of the pianos, so I can just take 100% for 2025 with section 179 and be done. Bonus depreciation wouldn't apply here. Am I correct on my reasoning? Thanks 

Grantor trusts can output a weird format.  It definitely takes some getting used to.   Can you please let us know what the errors are that you're seeing?  It may be that we can help.  Certainly if there are errors in the program it helps to know what they are specifically.

If you are asking about your federal tax return, you can follow the instructions supplied above.   If you are asking about your state tax return, the California Franchise Tax Board states: If your tax return has an amount due, mail your tax return to the following address: Mail Franchise Tax Board PO Box 942867 Sacramento, CA 94267-0001 If your tax return shows a refund or no amount due, mail your tax return to the following address: Mail Franchise Tax Board PO Box 942840 Sacramento, CA 94240-0001   @rjlabelle1 

TO FIND A 1095-A with healthcare.gov   How to find your 1095-A online Log in to your account. Under "Your Existing Applications," select your 2025 application — not your 2026 application. Select “Tax Forms." Download all 1095-As. Get screen-by-screen directions, with pictures (PDF, 504 KB).

@rjlabelle1 If you are not going to e-file the federal tax return but are mailing the signed and dated federal tax return, use this address for mailing when you live in California.   If you are not enclosing a tax payment - Department of Treasury Internal Revenue Service  Ogden, UT 84201-0002   If you are enclosing a tax payment - Internal Revenue Service P.O. Box 931000 Louisville, KY 40293-1000

If you are filing as Married Filing Separately you are not eligible for the deduction.  If you are Single and your AGI is over $175,000 or Married Filing Jointly and your AGI is over $250,000 you are not eligible for the deduction.   If you are age 65 or older and meet the requirement, the additional deduction is automatically added on your federal tax return.   Standard deductions for 2025 Single - $15.750 add $2,000 if age 65 or older Married Filing Separately - $15,750 add $1,600 if age 65 or older Married Filing Jointly - $31,500 add $1,600 for each spouse age 65 or older Head of Household - $23,625 add $2,000 if age 65 or older   New Bonus Standard Deduction (OBBB): An additional $6,000 deduction for taxpayers 65 and older. This is per eligible individual, meaning a married couple both over 65 could get $12,000. Important: This bonus deduction is temporary, lasting from 2025 through 2028. Income limitations: It phases out for taxpayers with modified adjusted gross income over $75,000 for single filers and $150,000 for joint filers. The amount is calculated on Schedule 1-A, Part V, with that amount flowing to Form 1040 Line 13b Look at your Form 1040 - You can view your Form 1040 plus Schedules 1, 2 and 3 at any time using the online editions. Click on Tax Tools on the left side of the online program screen. Click on Tools. Click on View Tax Summary. Click on Preview my 1040 on the left side of the screen.

I assume you meant the other two trad IRAs are included in line 4b, not 5b.   The instructions for lines 4a and 4b are a bit convoluted. For example, if the entire amount of a distribution is reported in 4b, then the distribution does not have to be reported in 4a, which leads to the seemingly strange situation of 4a being smaller than 4b.   Not to worry - as you suspect, this will have no impact on your tax return.